The Man is cashing in on National Underwear Day, this ridiculous thing they do in Times Square every year with people running around in undies. This year, those wags will be competing with the pros: "Diesel, Natori, Nautica, Tommy Hilfiger and 2Xist underwear brands will have hotties strutting in their skivvies in a runway show at Espace on Aug. 5. "Lydia Hearst [Who models for Myla - ed] be 10 runway shows."" [Page Six]

Speaking of unmentionables, Sadie Frost (aka Jude's ex)'s skivvies co, Frost-French, has gone bust to the tune of owing a ton of money. Sources say the actress is devastated. [Mirror]

Gwyneth Paltrow is teaming up with Saks Fifth Avenue to front its Key to the Cure campaign, a women's cancer initiative. Mrs. Martin will appear in promos and, presumably, sport the tee that Karl Lagerfeld designed for the occasion. [UPI]

Also in celeb endorsements, apparently Solange Knowles is the new face of Armani Jeans. Quoth Girogio, "Armani Jeans expresses my vision of a young, independent, casual lifestyle with a strong and cool, fashion sensibility. Solange epitomises this style perfectly and brings to it that swing so evident in her new single, I Decided." [Sassybella]

Diane Von Furstenberg was unanimously reelected head of the Council of Fashion Designers of America. In the past year the CFDA has been active in promoting awareness of health issues in the industry. [WWD]

Molly Ringwald: "I never thought of myself as an icon...my style was from necessity; my parents kept me on on allowance." [Star Tribune]

Agyness Deyn is living the American dream, with an apt. in hipster-central Williamsburg, Brooklyn and a brand-new Yank PA. "The girl is responsible for keeping track of Agyness' schedule, travel plans, and general well being, which sounds like the easiest job in the world, since while it's true she's one of the busiest working models right now, she's also one of the nicest and most easygoing that we've ever met." [Fashionista]

An enormous pair of Queen Victoria's bloomers, dating from the 1890s, just sold at auction for nine grand. Auctioneer Charles Hanson described the 50-inch knickers as belonging to '"a very big lady of quite small stature with a very wide girth." She was said to be 5 feet (1.52 meters) tall.' [AP]

That woven dress that so wowed Natalie Portman on the second episode of Project Runway? Already sold out on Bluefly. Suede, obviously, released a statement. "I was so excited about this challenge and really wanted to win. Selling my dress on Bluefly is the opportunity of a lifetime. I knew I had to pull out all of the stops to impress this client and especially celebrity judge Natalie Portman, and Suede, "ROCKED IT!" And, now to see the customers responding to my "winning look" like this what a thrill. It is a million times better than immunity! Suede LOVES that!!!" [NY Mag]

The new crop of Gap ads - featuring the daughter of French Vogueeditirice Carine Roitfeld, sont arives! [Fashionista]

David "Mulder" Duchovny is, for some reason, part of sportswear company Johnston and Murphy's push to be more relevant. "The ads show Duchovny, with a pensive look on his face, wearing Johnston & Murphy sportswear and shoes and, in some creative, accompanied by accessories such as a briefcase and other leather goods. Text reads: "Johnston, Murphy & Duchovny."" [BrandWeek]